- ExxonMobil confirms \$1.5 billion investment in Nigeria’s deepwater oil fields.
- Focus areas include Usan, Owowo, and Erha fields from Q2 2025 to 2027.
- The move reflects strong confidence in Nigeria’s upstream sector.
- Investment counters speculation of ExxonMobil’s exit from Nigeria.
- Supports NUPRC’s “Project 1 Million Barrels” to raise oil production.
- NUPRC commits to regulatory support for energy sector development.
